KeyBanc analyst Justin Patterson raised the firm’s price target on Alphabet (GOOG) (GOOGL) to $380 from $370 and keeps an Overweight rating on the shares. The firm believes consensus under-appreciates Alphabet’s Google Cloud ramp. As Cloud momentum continues and Search remains a low-double-digit grower, KeyBanc sees 2027 EPS approaching $14. Net, Alphabet continues to have multiple paths for AI monetization, and the firm continues to see Cloud supporting a mid-to-high 20s price to earnings multiple.
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